Some Highlights

• According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32.
• With more millennials entering a homebuying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong.
• More and more “old millennials” (ages 25-36) are realizing that homeownership is now within their grasp, and they’re actively dominating the first-time homebuyer market!

Some are reporting that there is trepidation regarding the real estate market in the United States. Apparently, the American people are quite comfortable.

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd?

Some Highlights

• Existing Home Sales are currently at an annual pace of 5.46 million.
• The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply.
• Inventory remains low due to high demand from buyers who are still looking for a house to buy!

There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream.

Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.

Some Highlights

• With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
• According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
• The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan.
• Maybe it’s time to lock in now, while rates are still historically low.

 

Success is something often worth repeating, and Brent Sutherland, a Certified Financial Planner and Real Estate Investor, has certainly made his way in a momentum-driving direction. Here are 3 tips he shares from a recent piece in Business Insider on the benefits of owning real estate:

In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,

Some Highlights

• Historically, the choice between renting and buying a home has been a tough decision.
• Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
• Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year.

Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money.

Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.

Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice.

Some Highlights

• The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership.
• In 2018, $161 billion was loaned to veterans and their families through the program.
• In the same year, the average loan amount was $264,197 and 610,513 loans were guaranteed.

Millennials have waited longer than any other generation to become homeowners, but the wait for this cohort is just about over.

When you’re ready to buy, you’ll need to determine if you prefer the charm of an existing home or the look and feel of a newer build. With limited existing home inventory available today, especially in the starter and middle-level markets, many buyer...

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.

Here are four great reasons to consider buying a home today, instead of waiting.

Some Highlights

Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:

• 71% of buyers who purchased homes have put down less than 20%.
• 78.1% of loan applications were approved last month.
• In September, the average credit score for approved loans was 737.

Did you know that 1 in 6 Americans currently live in a multigenerational household?

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind."

Today’s real estate market is nothing like the 2008 market. When an economic slowdown happens, it won’t resemble the last one.

If you’re searching for a home online, you’re not alone; lots of people are doing it. The question is, are you using all of your available resources, and are you using them wisely? Here’s why the Internet is a great place to start the home-buying process, and the truth on why it should never be your only go-to resource when it comes to making such an important decision.